FG, Switzerland agree on repatriation of $321m Abacha loot

Switzerland will soon return $321million confiscated from Sani Abacha's clan to the government.

This was made public on Monday by the Minister of Foreign Affairs, Godfrey Onyema, when he re­ceived Didier Burkhalter, Swiss Foreign Minister.


"It is $321 million that we are looking for and re­patriating to Nigeria and the modalities are basi­cally legal framework for that; I mean mutual le­gal assistance framework that we are trying to put in place and there are pre conditions that are also in place already. This re­quires monitoring mecha­nism. So, we have to agree beforehand as a pre-con­dition on what the money would be used for. The World Bank would be part of the monitoring process to ensure that the money is used for the benefit of Nigerian people."


Asked how significant the visit of the Swiss For­eign Minister is, Onyema said, "It is very significant, of course, to start with re­patriating or helping to re­patriate these funds. Oth­ers could be discovered in the future and also Swit­zerland is helping us in many different areas; with the internally displaced person in the northern part of the country, they are making significant financial contribution there as well; In the area of trade, they are about to open a new consulate in Lagos and of course this would be a mechanism that helps to promote trade and Swiss investment in Nige­ria which is what we are looking for."


Didier Burkhalter, Swiss Foreign Minister, said, "I am happy to be here to see that we have very constructive relations; it is already a good one at that basis and we would develop it very concretely and pragmatically."

According to him, "We would open a consul­ate in Lagos that would boost economic relations between Swiss Land and Nigeria in the next future.

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